Woolworths Holdings Limited
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TRADING UPDATE FOR THE 52 WEEKS TO JUNE 2006
July 26, 2006
'Woolworths Holdings increased sales for the 52 weeks to June 2006 by 16.3%compared to the same period last year. Comparable store sales growth was 9.9%. Woolworths, Clothing and Home grew sales by 12.4% in total and 8.2% in comparable store sales with an average deflation rate of approximately -1% over the period. Food sales grew by 22.5% in total and by 11.9% in comparable store sales with an average inflation rate of approximately 4.2% over the period. Expansion in corporate stores resulted in an increase of 6.4% in trading space in Clothing and Home, and 11.9% in Food over the period. Sales for the Australian subsidiary Country Road are in line with our expectations. Simon Susman, Chief executive said: Sales performance reached expectations, however, expenses have come under pressure with higher than planned levels of bad debt and other non-comparable provisions. Our tax rate will also be affected by the non-comparability of the STC incurred on dividend payments during the year. The publication of the results of the Company for the twelve months to 30 June 2006 is scheduled for 23 August 2006.
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